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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Augmenting the capital base
Strengthening the company's capital base to support future on-book lending as the branch network and loan portfolio continue to grow, with any residual amount applied to general corporate purposes.
(₹ in Crore)
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Laxmi India Finance Limited is a Jaipur-headquartered, non-deposit-taking Non-Banking Financial Company that traces its roots to 1996 and was consolidated under its current promoter group in 2011. The company focuses on financial inclusion, extending MSME loans, vehicle loans, construction loans and other secured lending products to customers in semi-urban and rural areas who are typically underserved by larger banks, with more than 80 percent of its MSME book qualifying as Priority Sector Lending under RBI norms. The company operates through a hub-and-branch network of more than 150 branches spread across Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh and Uttar Pradesh, reaching tens of thousands of active MSME and vehicle-loan customers. Its lending model combines direct branch-led origination with indirect sourcing channels, and its asset book, revenue and profitability have all grown at a healthy pace over the last three fiscal years as the branch network has expanded. Ownership is concentrated with the promoter Baid family, led by Deepak Baid and Prem Devi Baid, along with associated family entities and trusts. The company's ability to access diversified sources of capital at a reasonable cost, together with its experienced management team, underpins its strategy of deepening penetration in semi-urban and rural lending markets across central and western India.
The company allocated about 47.79 lakh shares, roughly 29.7 percent of the total issue, to anchor investors ahead of the IPO opening at the price band ceiling of Rs 158 per share.
Source: RHP • Analysis provided for informational purposes
Last Updated: 13 July 2026, 5:30 AM
Diversified funding access
The company draws on multiple sources of capital, which has helped it maintain a competitive cost of funds relative to peers serving similar customer segments.
Deep semi-urban and rural reach
A branch network built across Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh and Uttar Pradesh, combined with both direct and indirect sourcing channels, gives it strong on-ground presence in underserved markets.
Experienced leadership
The promoter and senior management team bring a long track record in retail and MSME-focused financial services.
Efficient branch model
A hub-and-branch operating structure keeps distribution costs relatively low while still allowing the company to reach dispersed rural and semi-urban customers.
Dependence on continued funding
The business relies on steady access to external capital, and any delay or worsening in borrowing terms could pressure its financial position.
Segment concentration
Revenue is concentrated in MSME and vehicle lending, so adverse regulatory or industry-specific developments in these segments would disproportionately affect the company.
Loan covenant risk
Breaches of loan agreement covenants, including from borrower defaults, could constrain the company's operating and financial flexibility.
Laxmi India Finance Limited
MUFG Intime India Private Limited
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Customer repayment risk
A large share of the loan book serves mid- to low-income customers in rural areas, who may be more vulnerable to income shocks that affect their ability to repay.